Gemfields posts $242m revenue
Published On February 1, 2024 » 475 Views» By Times Reporter » Business, Stories
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By KENNEDY MUPESENI –
GEMFIELDS Group Limited, the majority shareholder in Kagem emerald mine in Zambia, has posted strong auction revenues and pricing for both emeralds and rubies for six months as at December 31, 2023.
Total auction for the period under review was US$242 million, the second highest year in Gemfields’ history despite the withdrawal of November 2023’s auction of higher quality emeralds.
This is according to the operational results and financial position for the six months posted on its website yesterday.
“Kagem experienced a general improvement in both the quality and quantity of premium emeralds recovered in recent months,” the company stated.

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